Shares of KEC International Ltd rose 9% on Thursday after the firm secured new orders worth Rs 1,025 crore in T&D and cables businesses. KEC International shares gained 9% to Rs 941 against the previous close of Rs 862.95 on BSE. Market cap of the firm climbed to Rs 23,348 crore. The civil construction stock has gained 50% in 2024 and risen 65% in a year. A total of 0.95 lakh shares of the firm changed hands amounting to a turnover of Rs 8.80 crore.
KEC International shares have a beta of 0.9, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 58.2, signaling it's trading neither in the overbought nor in the oversold zone.
The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 200 day and 100 day moving averages. The stock fell to a 52 week low of Rs 549.90 on June 28, 2023 and rose to a 52 week high of Rs 953.15 on June 18, 2024.
The business has won orders for T&D projects in India, Africa and Americas.
1. 765 kV GIS Substation in India, from Power Grid Corporation of India Limited (PGCIL)
2. 225 kV Composite project including Transmission line, Substations & Underground cabling in West Africa
3. Supply of towers, hardware and poles in Americas Cables:
The business has secured orders for supply of various types of cables in India and overseas.
Vimal Kejriwal, MD & CEO, KEC International said, “We are pleased with the continuous inflow of orders, especially in our T&D business. The orders in T&D have substantially expanded our order book in both domestic and international markets. With the above orders, our YTD order intake has surpassed Rs. 4,000 crores, with a staggering growth of over 70% vis-à-vis last year. These orders along with the orders announced earlier during the year, reaffirm our confidence in achieving the targeted growth going forward.”
KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables. The company is currently executing infrastructure projects in 30 plus countries and has a footprint in 110 plus countries (includes EPC, supply of towers and cables). It is the flagship company of the RPG Group.